June 17, 2021 – Ottawa, Canada – Edgewater Wireless Systems Inc. (“Edgewater” or the “Company”) (YFI: TSX.V) (OTCQB: KPIFF) is pleased to announce that at its annual general meeting of shareholders held on June 16, 2021 (the “AGM”) all resolutions put to the shareholders were passed. At the AGM, shareholders approved setting the number of directors at four and electing all of management’s nominees, as listed in the management proxy circular dated May 14, 2021, to the Board of Directors to serve until the next annual general meeting. In addition, shareholders approved the re-appointment of KMPG LLP as the Company’s auditor and approved the continuation of the Company’s rolling stock option plan (the “Plan”).
The Company is pleased to announce the addition of Ralph Garcea to the Company’s Board of Directors, which was approved at the AGM. With more than 22 years of experience in senior positions at major and boutique investment dealers in the United States and Canada, Mr. Garcea was a top-ranked research analyst specializing in technology, gaming and industrial companies. Mr. Garcea is the managing partner and co-founder of Focus Merchant Group, a boutique advisory firm offering a full range of financial advisory services. He currently serves as a director on the board of Toronto Stock Exchange-listed Converge Technology Solutions Corp.
The Company further announces that it has granted incentive stock options (the “Options”) pursuant to the Plan to various directors, management, employees, and consultants of the Company to purchase up to an aggregate of 1,500,000 common shares in the capital stock of the Company at an exercise price of $0.13 per share for a period of eight years from the date of grant. A total of 200,000 options granted to an investor relations services provider to the Company, will vest over a twelve month period, with 25% vesting every three months after the date of grant.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 24+ patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
For more information, visit www.edgewaterwireless.com.
Edgewater Wireless Contact:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com
T: +1 613-271-3710
W: www.edgewaterwireless.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
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